Stock With Momentum: Ewein Bhd

This article first appeared in The Edge Financial Daily, on July 23, 2018.
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Ewein Bhd (-ve)
TRADING of shares in Ewein Bhd (fundamental: 1.3/3, valuation: 1.4/3) triggered our momentum algorithm last Friday for the seventh time this year. The company saw 13.41 million shares traded, exceeding the counter’s 200-day average of 2,574,213.

The stock closed unchanged at 81 sen, leaving it with a market capitalisation of RM245.79 million.

Ewein currently trades at 1.14 times its book value.

The property developer saw its net profit quadrupled to RM12.05 million in the first quarter ended March 31, 2018 from RM2.53 million a year ago, mainly on higher sales of properties and faster construction progress. Quarterly revenue more than doubled year-on-year to RM56.46 million from RM22.76 million.